Park National Corp OH Purchases 2,589 Shares of Analog Devices, Inc. $ADI

Park National Corp OH grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,566 shares of the semiconductor company’s stock after acquiring an additional 2,589 shares during the period. Analog Devices comprises 1.5% of Park National Corp OH’s holdings, making the stock its 10th biggest position. Park National Corp OH’s holdings in Analog Devices were worth $47,805,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. National Wealth Management Group LLC purchased a new position in shares of Analog Devices in the 2nd quarter valued at about $558,000. Caldwell Trust Co acquired a new stake in Analog Devices in the second quarter valued at approximately $1,490,000. Valeo Financial Advisors LLC increased its position in shares of Analog Devices by 6.7% in the second quarter. Valeo Financial Advisors LLC now owns 5,052 shares of the semiconductor company’s stock valued at $1,203,000 after buying an additional 317 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in Analog Devices by 11.4% during the second quarter. Centaurus Financial Inc. now owns 2,187 shares of the semiconductor company’s stock valued at $521,000 after purchasing an additional 224 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Analog Devices by 132.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 62,560 shares of the semiconductor company’s stock worth $14,887,000 after purchasing an additional 35,682 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the completion of the sale, the chief executive officer directly owned 163,640 shares of the company’s stock, valued at $38,447,218. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward H. Frank sold 1,000 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the transaction, the director owned 5,118 shares in the company, valued at $1,242,343.32. This represents a 16.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 35,419 shares of company stock worth $8,791,598. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADI. JPMorgan Chase & Co. boosted their target price on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Barclays raised their price target on Analog Devices from $185.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 21st. Wells Fargo & Company increased their target price on shares of Analog Devices from $250.00 to $265.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Cfra reissued a “buy” rating and set a $280.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Finally, Zacks Research downgraded Analog Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.61.

Analog Devices Price Performance

NASDAQ:ADI opened at $280.44 on Tuesday. The company’s 50-day moving average is $246.90 and its two-hundred day moving average is $240.92. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $284.23. The firm has a market cap of $137.32 billion, a price-to-earnings ratio of 61.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the company earned $1.67 earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, December 8th. Analog Devices’s dividend payout ratio is currently 86.84%.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.